NEW YORK (CNNMoney) -- U.S. stocks fell Friday after a government report showed that employers added fewer than expected jobs in April.

Dow Jones industrial average (INDU) was down 114 points, or 0.8%, in morning trading. The S&P 500 (SPX) fell 15 points, or 1%, and the Nasdaq (COMP) fell 53 points, or 1.5%.

The jobs report showed a net gain of 115,000 jobs, far less than the 160,000 forecast by economists surveyed by CNNMoney. However, upward revisions to the February and March jobs figures and a drop in the unemployment rate to 8.1% may temper some of investors' disappointment in the report.

"The labor market data confirms that the economy gained little momentum over the past six to nine months," said Steven Ricchiuto, chief economist at Mizuho USA.

While the gain in payrolls was disappointing, he noted that the number of hours worked increased in April and the jobless rate fell. These developments "confirm that the economy is not in the process of stalling," said Ricchiuto.

As the economy slows, investors have been anticipating more action from the Federal Reserve. In particular, some investors expect the central bank to launch a third round of bond purchases, a policy known as quantitative easing.

I’ve been overweight on Virnetx (VHC) for well over a year..and it is up. Worth a look. It may be the last stock I ever invest in due to the crooked market I’ve been in for the last 10 years or more....but it is a gem.

11
posted on 05/04/2012 9:14:19 AM PDT
by SueRae
(The Tower of Sauron falls on 11.06.2012)

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